Real estate refers to any tangible property that can be in the form of land or construction on the land. Most people associate real estate with personal property or residential property but it also includes commercial property, industrial property, and vacant land that can be used for agricultural or non-agricultural purposes.
Size of Real estate in Indian GDP
Real estate is among the top four pillars of the economy and is expected to reach Rs. 12,000 crores by the end of 2030 and contribute approximately 13% of the country’s GDP by 2025. This sector contributes greatly to the overall employment in the country as well. The prices of real estate are largely influenced by macroeconomic factors like the developments in a particular area, the upcoming infrastructure developmental projects, and the demand for real estate in the general.
